Yem0350:
Someone should pls help me. I couldn't find morgan capital skye bank acct no. Pls, anybody with it shl pls help me

morgan capital securities clients a/c-- 1771365357

transcorp@2.70......but let see this market underlining condition if it persists.. then one needed to wait a bit... to buy lower at perhaps #2.45.

Let see fo@#120....,Ubcap@#1.15,apfriprudential@#2.30,uba@#3.60,fidelity@#1.50 etc.

Reddit:
SEC Approves Stocks Can Now Trade At One Kobo Per Share. Here Is What It Means

Do you remember what 1 kobo looked like?

The Security and Exchange Company has finally approved for the Nigerian Stock Exchange to move the 50 kobo floor a stock can trade at to as low as 1 kobo.

The Rule states that “notwithstanding its par value, the price of every share listed on The Exchange shall be determined by the market, save that no share shall trade below a price floor of one Kobo per unit (N0.01)”.

The NSE had announced plans for shifting the floor price and was merely awaiting SEC approval to begin. However, SEC did not disclose details of how NSE is expected to proceed. We will have to wait for NSE to provide details as to when it plans for the new floor price to become effective.

What it means?

Currently, the lowest Nigerian stocks can trade for is 50kobo. That is no matter how much a share price drops it can never drop below 50 kobo. It is unclear how 50 kobo was selected as a floor price but it perhaps explains why most quoted stocks have a nominal price of 50 kobo per share.

With the floor set to be moved to 1kobo (N 0.01) stocks can now drop to as low as One kobo per share if the markets deems the price to be so.

Why the change?

There are several reasons why it makes sense to move the floor from 50 kobo to 1 kobo however one stands out to us. A share price of 50 kobo per share can be artificial and thus means some stocks are expensive. Imagine you hold a stock that trades at 50 kobo per share and no one is willing to buy at that price. The market probably feels it is worth lower. With the stock trading at 50 kobo per share no one is interested in buying even if the seller is willing to sell for much lower. Now that the floor is reduced by 98% to 1 kobo per share, there is room for buyers and sellers to bargain more thus creating more liquidity for the market.

What are the implications?

The implications are far-reaching and in fact could trigger a massive sell-off in the early days and weeks of its implementation. Lets explore what could happen

Penny Stocks – Investors with a lot of penny stocks in their portfolio could be among the first to be hit by a sell off. Stocks between 50 kobo per share and N1 per share could be in the firing line as investors reassess their values.

Illiquid stocks – Stocks that have remained stuck at 50 kobo per share could also begin to see some movement as investors who have held these stocks for months or even years may have their stockbrokers place a sell mandate. Some mandate could even be at any price further depressing value.

Nominal Values – It is very likely that some company could decide to reduce the nominal value of their shares to 1 kobo per share via a scheme of share reconstruction. That way they could escape the wrath of a massive value accretion. Whether that will be possible will depend on the regulation that SEC proposes around this.

Fund raising activities – Fund raising activities could also be significantly affected by this move. For example companies looking to embark on IPOs or Public Offers may have to list at a much lower price per share meaning that they will have to increase their shares outstanding to accommodate the value that they seek. This leads to the next point

Registrars – these guys may also need to re price the fees they charge for their registrar business. For example, if a company needs to raise N10 billion at 50 kobo per share, it will need to sell 20 billion units. At 1 kobo per share it will be 1 trillion shares. That is astronomical and could create a reconciliation headache for most registrars.

Your Portfolio – Those who have portfolios dominated by penny stocks may have to reconsider their portfolio mix as they might be the first to be hit. If penny stocks get pummeled like we suggest, then portfolios that have a large constituents of penny stocks will decline massively in returns.

Source

hmmmmm Oga o!

This one get as e bi but no shaking. I would rather have the news even if it bad than for it to be sugar coated and end up disappointed. I do penny stocks but they will balance themselves out eventually then I can hit the reset button.

Yem0350:
Someone should pls help me. I couldn't find morgan capital skye bank acct no. Pls, anybody with it shl pls help me

I feel it's better you contact Morgan and get it directly from Morgan

Please stop selling when there is a bear and buying when there is a bull. you are only trading backwards!

Some of Yesterday’s gainers

Berger 6.8%
Beteglas 4.98%
Flourmill 4.94%
Ikejahotel 3.73%
Honyflour 1.53%
Jberger 5.00%
Mobil 4.20%
Okomuoil 4.83%
Presco 4.69%
Wemabank 4.26%

There is always profit to be made...

mercylicious:


Are u saying DT d recent bull in contain, eternal etc was stage managed by d men in black?
Even though I walk through d shadow of bears, I fear no evil.

Per 'contain', the recent trade dynamics suggests that it could be the handiwork of some pro traders, not necessarily the men in black.

Per 'eternal', a recent rally remains to be seen. Even with my magnifying lens, I nor gree see am.

Meanwhile, if the 'men in black' (as myjoy08 will have it) is what I'm thinking, then I really doubt they have the time for the stocks above.

#we are STILL making money this year

@Aloaye: With all humility and utmost respect for the person of Masiyiwa, I find some of these quotes that surface during the Bears amazing (I won't say amusing)

Except he is talking about buying IPOs, then being an OWNER has never been less risky than being a TRADER. Does he have investments in Nigeria, where OWNERS can wake up one day and see a 100 for 1 share reconstruction?

Capital market investment has never been more than basic principles: WHY do you want to buy a stock? WHEN do you plan to quit the stock? WHAT will you do if situations turn out contrary to your plan?

These questions apply to TRADERS, INVESTORS, OWNERS, BORROWERS, LENDERS, COWBOYS, MEN IN BLACK, FUND MANAGERS... name it.

daemperor1:

I wandering over his last post too, how contradictory.

Bros u could have asked for explanation. The post has nothing to do with my investment strategy. Pick any 3 months and six months time frame on stock charts and you will understand that investors only panic for nothing sake. Events always revert to the mean

Moneysage:
@Aloaye: With all humility and utmost respect for the person of Masiyiwa, I find some of these quotes that surface during the Bears amazing (I won't say amusing)
Except he is talking about buying IPOs, then being an OWNER has never been less risky than being a TRADER. Does he have investments in Nigeria, where OWNERS can wake up one day and see a 100 for 1 share reconstruction?
Capital market investment has never been more than basic principles: WHY do you want to buy a stock? WHEN do you plan to quit the stock? WHAT will you do if situations turn out contrary to your plan?
These questions apply to TRADERS, INVESTORS, OWNERS, BORROWERS, LENDERS, COWBOYS, MEN IN BLACK, FUND MANAGERS... name it.

... MONKEY HUNTERS, JIJO MASTERS, PIGS ...

Many People with different theory. Not to sell during the bear does not work all the time, Transcorp for example, when someone notice the presence of bear and sell his Transcorp share at #3.20, and enter the next day at #3.05, and also find out that bear presence continue, he sells at #3.10, enter back again at #2.94 sells at #2.99, enter again at #2.83 sells at #2.89, enter again at #2.70. He follow up because he want to participate in the massive gain when the bull returns. #3.20 minus #2.70, he has already save/gain upto 50k times number of his share.

[quote author=Moneysage post=34446378]@Aloaye: With all humility and utmost respect for the person of Masiyiwa, I find some of these quotes that surface during the Bears amazing (I won't say amusing)

Except he is talking about buying IPOs, then being an OWNER has never been less risky than being a TRADER. Does he have investments in Nigeria, where OWNERS can wake up one day and see a 100 for 1 share reconstruction?

Capital market investment has never been more than basic principles: WHY do you want to buy a stock? WHEN do you plan to quit the stock? WHAT will you do if situations turn out contrary to your plan?

These questions apply to TRADERS, INVESTORS, OWNERS, BORROWERS, LENDERS, COWBOYS, MEN IN BLACK, FUND MANAGERS... name it. [/quote]

What of MONKEY HUNTERS?

Relax..The bulls are coming.

I will say it again. Chibuking... Shut Up.
Are you a doomsday prophet? You see bear which is normal in any market you be reporting as if we are in apocalypse.

Born2berich:
Relax..The bulls are coming.

please when are we expecting the bull?, how soon?, is it today, next week, next month or next year?.

The opportunity is here again for good bargain

Please gentlemen and few bold respected ladies,what is the fate of the likes of wapic insurance 50kobo class equity with this new norminal value of #0.01(1 kobo).Will it be adjusted with the dead and hopeless bones to the new status quo of 1kobo nominal value or what sir/ma.You know wetin man no know na that can be too deadly,so pls answer me.

Chibuking81:
please when are we expecting the bull?, how soon?, is it today, next week, next month or next year?.

chibu! chibu!! chibu!!! chibubear!!!!!!!! hmmm you dey make me laff so tey i mistaken skirt for trouser!

Next year?.......I believe after another 7days blood shedding,bulls will re-appear..............

Chibuking81:
please when are we expecting the bull?, how soon?, is it today, next week, next month or next year?.

angelo82:
Next year?.......I believe after another 7days blood shedding,bulls will re-appear..............

ok, that is good, we all pray for money making opportunities, also not to miss out.

It's time to enter for today business.

Seems like Vitafoam doing 100% and Vono doing half of it is not going to happen after all.................

When Segun Odegbami played for the national senior team, the team was named ''green eagles''.

angelo82:
Seems like Vitafoam doing 100% and Vono doing half of it is not going to happen after all.................

Ur questn has been answered previously. it will happen b4 d next 3months.
@ all, shine ur eyes. Guys are still making money, but u need to concentrate to make DT happen.

Agba my love, tommorow is my bday. What are u buying for me?

Currently watching destiny on zee world. Cant wait for Married again

lol............It will happen before next 3months...........Anyway,happy birthday in advance........You will do a thousand birthdays in this life..........

mercylicious:


Ur questn has been answered previously. it will happen b4 d next 3months.
@ all, shine ur eyes. Guys are still making money, but u need to concentrate to make DT happen.

Agba my love, tommorow is my bday. What are u buying for me?

bigass:
Currently watching destiny on zee world. Cant wait for Married again

Watching TV n browsing with one hand.

Am guilty of same offence. I eat garri with right hand and browse with d left. DTS how mad nsempa has made me.

angelo82:
lol............It will happen before next 3months...........Anyway,happy birthday in advance........You will do a thousand birthdays in this life..........

The bday is a special bday , only for agbalowomeri.

So you want me to take my wishes back.......1000 birthdays?...........

mercylicious:


The bday is a special bday , only for agbalowomeri.

presiade:
When Segun Odegbami played for the national senior team, the team was named ''green eagles''.

The men that played in Abiolas team were called BABES

hbrednic:


The men that played in Abiolas team were called BABES

Hehehe... Only on NSEMPA...